Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2014, reconfigure the special minimum benefit: (a) A year of coverage is defined to be either a year in which 4 quarters of coverage are earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 5 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 100 percent of the monthly poverty level (about $957.50 in 2013). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $957.50/20 = $47.90. (c) From 2013 to the year of implementation, 2014, index the PIA per year of coverage using the CPI index. Then, for later years, index the PIA per year of coverage by wage growth for successive cohorts. (d) Scale work requirements for disabled workers, based on the number of years of non-disabled potential work.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2013

13.95

12.69

-1.26

330

0.00

0.00

0.00

2014

14.04

12.83

-1.21

315

0.00

0.00

0.00

2015

13.98

12.86

-1.11

301

0.01

0.00

-0.01

2016

13.93

12.88

-1.05

285

0.02

0.00

-0.02

2017

13.91

12.90

-1.00

270

0.03

0.00

-0.03

2018

13.95

12.93

-1.02

256

0.03

0.00

-0.03

2019

14.10

12.95

-1.15

243

0.04

0.00

-0.04

2020

14.31

12.97

-1.34

229

0.05

0.00

-0.05

2021

14.50

12.99

-1.50

216

0.06

0.00

-0.05

2022

14.77

13.03

-1.74

201

0.06

0.00

-0.06

2023

15.04

13.04

-1.99

186

0.07

0.00

-0.07

2024

15.30

13.06

-2.24

170

0.08

0.00

-0.07

2025

15.56

13.07

-2.48

154

0.08

0.00

-0.08

2026

15.80

13.09

-2.71

138

0.09

0.00

-0.08

2027

16.02

13.10

-2.92

120

0.09

0.00

-0.09

2028

16.23

13.11

-3.12

103

0.10

0.00

-0.10

2029

16.43

13.13

-3.31

84

0.10

0.00

-0.10

2030

16.60

13.14

-3.47

65

0.11

0.00

-0.11

2031

16.75

13.14

-3.60

45

0.12

0.00

-0.11

2032

16.87

13.15

-3.72

24

0.12

0.00

-0.12

2033

16.98

13.16

-3.82

3

0.13

0.00

-0.12

2034

17.07

13.17

-3.90

----

0.13

0.00

-0.13

2035

17.12

13.17

-3.95

----

0.14

0.00

-0.13

2036

17.15

13.17

-3.98

----

0.14

0.00

-0.14

2037

17.17

13.18

-3.99

----

0.15

0.00

-0.14

2038

17.17

13.18

-3.99

----

0.15

0.01

-0.15

2039

17.15

13.18

-3.97

----

0.15

0.01

-0.15

2040

17.12

13.18

-3.95

----

0.16

0.01

-0.15

2041

17.09

13.18

-3.91

----

0.16

0.01

-0.16

2042

17.06

13.18

-3.88

----

0.17

0.01

-0.16

2043

17.03

13.18

-3.86

----

0.17

0.01

-0.16

2044

17.02

13.18

-3.84

----

0.17

0.01

-0.17

2045

17.00

13.18

-3.83

----

0.18

0.01

-0.17

2046

17.00

13.18

-3.82

----

0.18

0.01

-0.17

2047

16.99

13.18

-3.81

----

0.18

0.01

-0.18

2048

16.98

13.18

-3.80

----

0.19

0.01

-0.18

2049

16.97

13.18

-3.80

----

0.19

0.01

-0.18

2050

16.98

13.18

-3.80

----

0.19

0.01

-0.18

2051

16.99

13.18

-3.81

----

0.19

0.01

-0.19

2052

17.01

13.18

-3.83

----

0.20

0.01

-0.19

2053

17.04

13.18

-3.85

----

0.20

0.01

-0.19

2054

17.07

13.19

-3.89

----

0.20

0.01

-0.19

2055

17.11

13.19

-3.93

----

0.20

0.01

-0.20

2056

17.16

13.19

-3.97

----

0.21

0.01

-0.20

2057

17.21

13.19

-4.02

----

0.21

0.01

-0.20

2058

17.26

13.20

-4.06

----

0.21

0.01

-0.20

2059

17.31

13.20

-4.11

----

0.21

0.01

-0.21

2060

17.36

13.20

-4.15

----

0.22

0.01

-0.21

2061

17.40

13.21

-4.20

----

0.22

0.01

-0.21

2062

17.45

13.21

-4.24

----

0.22

0.01

-0.21

2063

17.49

13.21

-4.28

----

0.22

0.01

-0.21

2064

17.53

13.21

-4.32

----

0.22

0.01

-0.21

2065

17.58

13.22

-4.36

----

0.22

0.01

-0.21

2066

17.63

13.22

-4.41

----

0.22

0.01

-0.21

2067

17.67

13.22

-4.45

----

0.22

0.01

-0.22

2068

17.72

13.23

-4.50

----

0.23

0.01

-0.22

2069

17.77

13.23

-4.54

----

0.23

0.01

-0.22

2070

17.81

13.23

-4.58

----

0.23

0.01

-0.22

2071

17.85

13.23

-4.62

----

0.23

0.01

-0.22

2072

17.88

13.23

-4.65

----

0.23

0.01

-0.22

2073

17.91

13.24

-4.67

----

0.23

0.01

-0.22

2074

17.93

13.24

-4.70

----

0.23

0.01

-0.22

2075

17.95

13.24

-4.71

----

0.23

0.01

-0.22

2076

17.96

13.24

-4.72

----

0.23

0.01

-0.22

2077

17.97

13.24

-4.73

----

0.23

0.01

-0.22

2078

17.97

13.24

-4.73

----

0.23

0.01

-0.22

2079

17.98

13.24

-4.74

----

0.23

0.01

-0.22

2080

17.99

13.24

-4.75

----

0.23

0.01

-0.22

2081

18.01

13.24

-4.77

----

0.23

0.01

-0.22

2082

18.03

13.24

-4.79

----

0.23

0.01

-0.22

2083

18.07

13.25

-4.82

----

0.23

0.01

-0.22

2084

18.10

13.25

-4.86

----

0.23

0.01

-0.22

2085

18.15

13.25

-4.90

----

0.23

0.01

-0.22

2086

18.20

13.25

-4.94

----

0.23

0.01

-0.22

2087

18.25

13.26

-4.99

----

0.23

0.01

-0.22

2088

18.30

13.26

-5.04

----

0.23

0.01

-0.22

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2013 Trustees Report.

2013-2087

16.75%

13.88%

-2.86%

2033

0.15%

0.01%

-0.15%

&nbsp

1 Under present law, the year of Trust
Fund reserve depletion is 2033.